Superannuation
Is superannuation taken of an employees Salary?
No
How much is the current Tax free threshold?
$18,200
Calculate the 2.5% of $200,000
$5000
Uniform is what kind of a payment on your payslip?
Allowance
What is the Median Salary in Australia? (accept within $10,000)
$79,800
What is the current SGC rate as of 1st July 2024?
11.5%
What is tax on wages and salaries called?
Income Tax
Musician's earn what every time their music is played?
Royalties
If you are paid $20 and hour for ordinary work how much would you be paid for 7 hours at a time and a half?
$300
What is the median house price in Gympie? (Within $50,000)
$510,500
If you are earn $1000 gross income for the week, how much is your employer obliged to add to your superannuation account?
$115
What is the highest taxable (cents in the dollar) bracket for Australia?
45c
Being paid per item picked/produced is called what type of work?
Piecework
What is percentage is annual leave loading?
17.5%
Highest paying job in Australia
Neurosurgeon ($600,000+)
What government income support payment does Superannuation try to reduce?
The Pension
What is the current Medcare Levy %?
2%
Commission payments are paid on what type of scale?
Sliding
What is the current minimum hourly rate in Australia?
$24.10
What industry is considered the most dangerous to work in? (deaths and disability)
Agriculture
Retirees that don't require government support payments are called what?
Self-funded retirees
What is tax is paid on the sale of large items such as investment properties?
Capital Gains Tax
Calculate 2.25% commission on $500,000
$11250
Who is the current Treasurer of Australia?
Jim Chalmers
What does PAYG stand for?
Pay as you go